2023 1 An accounting information system must be able to perform which of the following tasks 2 | Assignments Online

1. An accounting information system must be able to perform which of the following tasks?

2. Which of the following is not an example of a common activity in an AIS?

3. Which of the following is not one of the components of an AIS?

4. One group that relies on both the adequate collection and transformation of data for decision-making purposes for an organization is

5. The primary objective of accounting is to

6. The American Institute of Certified Public Accountants (AICPA) has recognized the importance of AIS and the major impact information technology has on the area of accounting. To recognize individual CPAs who have met educational and experiential requirements in this area, the group formally created the designation known as

7. The AIS must include controls to ensure

8. A change in the AIS that makes information more easily accessible and widely available within an organization is most likely to first influence the

9. The process of creating value for customers is the result of nine activities that form a

10.The value chain concept is composed of two types of activities known as

11. Which of the following is a primary activity in the value chain?

12. In value chain analysis, what is the activity of arranging the delivery of products to customers called?

13. An AIS provides value by

14. In Chapter 1, Figure 1-4 shows the factors that influence the design of AIS. The diagram shows a bi-directional arrow between the organizational culture and the AIS. The reason for this two-way interchange between organizational culture and AIS is

15. An example of inbound logistics would consist of

16. A good example of how an AIS is used to share knowledge within an organization is

17. One activity within the value chain is research and development. This activity can be identified as a

18. When the AIS provides information in a timely and accurate manner, it stands as an example of

19. Accounting information plays major roles in managerial decision making by

20. A well-designed AIS can improve the decision-making function within the organization. Which statement below would describe a limitation, rather than a benefit, of an efficient AIS?

21. Jill Fredson is in charge of the mail room at Gammon University. Every Friday morning she receives a report via email that summarizes the number of outgoing and incoming pieces of mail by source and destination department. Every Friday afternoon, Jill deletes the report without reading it because it has no bearing on mail room operations. Which of the following characteristics of useful information is absent in the situation described above?

22.Inventory information is provided in real time by a firm’s accounting information system. The accuracy of this information is questionable, however, since the production manager often reports stock outs of components that the system indicates are in stock. Which of the following characteristics of useful information is absent in the situation described above?

23. Joe Marzetti has been the controller of Fairview Tires for 25 years. Ownership of the firm recently changed hands and the new owners are conducting an audit of the financial records. The audit has been unable to reproduce financial reports that were prepared by Marzetti. While there is no evidence of wrongdoing, the auditors are concerned that the discrepancies might contribute to poor decisions. Which of the following characteristics of useful information is absent in the situation described above?

24. In 2003, Custer Manufacturing implemented a Web-based information system that allows all employees to access mission-critical information. The intention was to increase production efficiency. Unfortunately, it had the opposite effect, as deliveries fell behind schedule and costs increased. Jeff Akspen, the director of information technology services, asked Joyce Jenkins to come in and talk with him about the system. Joyce is a long-time employee of Custer, and her opinion is valued by her peers and by her supervisor. “So Joyce, how’s it going down there in the shop?””Not so good, Jeff. Used to be we got a weekly pick list so we knew how to plan production. Now, we got that computer system. Most of us can’t figure out how to use it to do our jobs. Is there some way to print out a pick list?”Jeff thought for a while before responding. “Well, Joyce, to tell you the truth, I’m not so sure how to do it myself, but there must be a way. We’ll bring in the consultants that helped us build the system. Maybe they can help.” Which of the following characteristics of useful information is absent in the situation described above?

25. Razzmataz, Wisconsin, is a popular tourist destination. During the winter months, the population dwindles to a meager few, but when summer comes, the size of the town surges. Chuck Hewitt is the town sanitation engineer. When the size of the town surges, so do his responsibilities. Among them is management of the sewage processing volume.In an interview with the local paper, Chuck complained that a report on tourist population that he uses to adjust processing volume refers to data that was collected five days ago and it takes him a week to make adjustments. Which of the following characteristics of useful information is absent in the situation described above?

26. A frantic Stro Frinzel called the home office from Des Moines.”You have got to help me. I am about to close a great sale, but I have to be able to guarantee delivery by the fourteenth. I can’t get through to the company Web site to verify delivery!””Thank you for calling. Your call is very important to us. However, all of our lines are currently in use. Please try again later.”Which of the following characteristics of useful information is absent in the situation described above?

27. Message left on an answering machine: “Hi Bob! Just got into town. How about dinner this evening if you’re available. Call me!”Which of the following characteristics of useful information is absent in the situation described above?

28. Information that reduces uncertainty, improves decision makers’ ability to make predictions, or confirms or corrects their prior expectations, is said to be

29. Information that is free from error or bias and accurately represents the events or activities of the organization is

30. Information that does not omit important aspects of the underlying events or activities that it measures is

31. When two knowledgeable people acting independently each produce the same information, this information is said to be

 

32. Data must be converted into information to be considered useful and meaningful for decision-making. There are six characteristics that make information both useful and meaningful. If information is free from error or bias and accurately represents the events or activities of the organization, it is representative of the characteristic of